Currency Risk Management

Selected Research Papers

Edited by M.S.V. Prasad, GITAM Institute of Management, India and G. V. Satya Sekhar, Gitam University, India

Currency Risk Management (CRM) is vital for any business engaging in international trade. Fluctuations and uncertainty within currency markets mean that businesses must seek to effectively manage and anticipate potential risks when striking international deals. In a rapidly changing and volatile global business environment, CRM is now more than ever of critical importance. However, what risks should businesses hedge – and how? With so many viable strategies for hedging currency exchange risk, it is crucial that businesses either outsource or have a specialized team to ensure effective and efficient management of currency exchange risks. But how does CRM operate in an emerging market? And what are the key factors that influence the chosen CRM strategies? Organized in association with Indian Bank, GITAM’s national conference on CRM sought to highlight the trends, problems, and prospects of CRM in India. Taken from the conference proceedings, this book presents 9 innovative research papers that consider differing CRM practices. From a comparative study of India and China to an assessment of CRM strategies used by commercial Indian banks, this book offers an invaluable insight into CRM from the perspective of an emerging market. As a whole, this book addresses India’s shift to a market-determined exchange rate regime and the inevitable problems caused the by the high volatility of exchange rates. Aimed at students enrolled in commerce and management courses, this collection of research papers will also be of interest to researchers in international finance.

Spoilt for Choice: How senior managers select professional advisors

Wienke Seeger

How do senior executives, such as CEOs and CFOs, interact, select and appoint professional advisors? Based on a successful PhD project, the research in this book explores the interactions between advisors of large professional service firms and senior executive clients on an evidence-based academic level. The research journey and the author’s reflections are charted step-by-step, providing an example of how to analyse unstructured qualitative data, reach theoretical saturation and capture emerging substantive theories. Moreover, by taking a unique holistic and inductive approach, this study offers a series of practical insights on how to combine and apply Kathy Charmaz’ constructivist grounded theory with an auto-ethnographic stance. Divided into eight chapters, the author uses empirical data and rigorous analysis to uncover two distinct decision-making processes, namely (a) the client’s decision to develop and maintain a relationship with the advisor and (b) to select and appoint the advisor for a particular project or services. Mapping these to one common conceptual framework a second complementary model emerges - a type of decision-making matrix with the foci ’competitiveness, skills and merit’, ‘continuity and embeddedness’, ‘control and manage’ and ‘trust and empathy’ - which offers the reader an alternative perspective of client decision-making. This book will be useful for practitioners and researchers alike who have an interest in understanding either naturalistic decision-making processes, the complexities of relationship development and procurement dynamics, as well as applied qualitative research methods.

Spoilt for Choice: How senior managers select professional advisors

Wienke Seeger

How do senior executives, such as CEOs and CFOs, interact, select and appoint professional advisors? Based on a successful PhD project, the research in this book explores the interactions between advisors of large professional service firms and senior executive clients on an evidence-based academic level. The research journey and the author’s reflections are charted step-by-step, providing an example of how to analyse unstructured qualitative data, reach theoretical saturation and capture emerging substantive theories. Moreover, by taking a unique holistic and inductive approach, this study offers a series of practical insights on how to combine and apply Kathy Charmaz’ constructivist grounded theory with an auto-ethnographic stance. Divided into eight chapters, the author uses empirical data and rigorous analysis to uncover two distinct decision-making processes, namely (a) the client’s decision to develop and maintain a relationship with the advisor and (b) to select and appoint the advisor for a particular project or services. Mapping these to one common conceptual framework a second complementary model emerges - a type of decision-making matrix with the foci ’competitiveness, skills and merit’, ‘continuity and embeddedness’, ‘control and manage’ and ‘trust and empathy’ - which offers the reader an alternative perspective of client decision-making. This book will be useful for practitioners and researchers alike who have an interest in understanding either naturalistic decision-making processes, the complexities of relationship development and procurement dynamics, as well as applied qualitative research methods.

Selflessness in Business

Edited by Dominika Ochnik, University of Opole, Poland

The book deals with a controversial and seemingly paradoxical relationship between selflessness and business. It depicts the primary and lasting controversy between the selfish (egoistic, competitive) and selfless (pro-social, co-operative) behavior in view of social, organizational and individual benefits. Therefore, it takes a step towards finding a solution to some of the challenges of the twenty-first century, particularly sustainable growth. The miscellaneous and transatlantic background of the Authors origins (USA, Colombia, Germany, Poland, UK, Spain) and their various perspectives (psychological, economic or philosophical) guarantee multi-voiced argumentation for strong relationships between selflessness and business. Selflessness is understood from a social perspective as related to self-transcendence and connectedness to others. This perspective can be helpful in providing a deeper understanding of pro-social behavior in organizations and its implications for productivity and effectiveness. The manifestations of this approach can be found in acts such as organizational altruism, loyalty, quantum leadership, or pro-social vocational interests. One can make an in-depth analysis of selflessness’s manifestations on a social, organizational and individual level. The ensuing question is how to achieve self-regulation in order to maintain sustainable growth, and selflessness turns out to be the answer. This book offers strong evidence for high organizational and individual benefits stemming from selfless behavior. Therefore, it is not selfish behavior that enables and encourages productivity and effectiveness but rather selfless behavior. The book also tackles gender issues in business, especially regarding the social female role as being traditionally related to selflessness. The authors aim to reveal possible solutions to present and future challenges and enhance the meaning of positive outcomes of selfless behavior in business and work environments, which seems to be crucial and indispensable for future growth. The book will be useful not only for academic and business specialists but also for everyone interested in a broader perspective at contemporary challenges of business and organizational psychology.

Market Orientation of Nonprofit Organizations: An Indian Perspective

Renjini D., Cochin University of Science and Technology, India and Mary Joseph T., Cochin University of Science and Technology, India

This book is an insightful account on market orientation and how it enhances the performance of non-profit organizations in India. The book provides the readers with a succinct, yet comprehensive view of scholarly research on the concepts of market orientation, non-profit marketing, and organizational performance of non-profit organizations and demonstrates why and how market orientation can be an effective organizational orientation for Indian non-profit organizations. Despite the growing importance of non-profit sector in socio-economic well-being of societies, academic debate and research in developing economy context in this field is glaringly sparse. This book attempts to addresses this gap in literature by analyzing market orientation and related concepts against the background of environmental conditions in a typical emerging economy context. Therefore, it will be especially beneficial to academics, researchers, students and practitioners in the fields of non-profit management, strategic marketing and social work, desirous of advancing their knowledge in nonprofit market orientation in these settings.

The Faces and Stakes of Brand Insertion

Edited by Sébastien Lefait, Aix-Marseille University, France and Sandrine Villers, Paris 8 University, France

With traditional forms of advertisement facing increasing challenges, brand placement - the integration of a product or brand in a work of art - has exploded. It has become a lucrative phenomenon whose goal is to produce a reaction of purchase in the mind of the receiver (reader, viewer or listener). This volume seeks to complement extant studies of product placement strategies by introducing a methodology more systematically related to the field of cultural studies, especially where the reception and impact of product placement are concerned. It explores the many iterations of brand placement in popular culture, with a consideration of the crossover between advertisement and art in everything from Wes Anderson, "Blade Runner" and the "Fast and Furious" franchise, to music videos, late night shows and plastic art. The book considers the impact of brand placement in TV series on teenagers, as well as the evolution of such placement in literature. The originality of this volume is that, when the impact of the placement is mentioned, it is to be understood as an intended aesthetic impact at least as much as a prompt to buy a product. Consequently, the placement of consumer goods in a cultural production, the book suggests, may both increase the sales of specific products and positively impact the production’s ratings. This book is perfect for researchers and students interested in marketing, brand placement, mass media, art, film, and cultural studies.

The Crest of the Innovation Management Research Wave

Edited by Marcus Tynnhammar, ISPIM, United Kingdom

For the ninth year running, the ISPIM Dissertation Award has attracted a wealth of PhD dissertations from all over the globe, which have once again contributed significantly to the field of Innovation Management. Comprising of submissions from the 2019 ISPIM Dissertation Award deemed to be of both high quality and high interest, The Crest of the Innovation Management Research Wave offers readers insights into the depth and breadth of research potential in the latest wave of innovation management. This publication provides a window into what the latest generation of scholars are contributing to the innovation management field, as well as into what they find significant and what might become important for the field over time. The wide selection included in this book offers a strong insight into new and upcoming developments in innovation management, drawing attention to interesting empirical areas to research. This edited volume will be of particular interest not only to students but also researchers and professional managers either interested or actively involved in cutting-edge research in the field of innovation management.

The Corporate Overlords will be Kind: Campaign Finance, Representation and Corporate-led Democracy

Radu George Dumitrescu, University of Bucharest, Romania

‘The Corporate Overlords will be Kind’ is a unique book in that it makes use of a multi-pronged approach – journalistic, legal, theoretical – to find, document, and explain instances in which well-known corporations such as Wal-Mart, Uber, McDonald’s, Airbnb, Gillette, Nike and others have involved themselves, as ‘artificial persons’, in political and social debates involving aspects such as gender, racism, sexual minorities, and gun ownership. This book argues that these transnational, multi-billion-dollar corporations that thrive in the globalized world market are forced to take explicitly political stances by the very environment in which they activate and by the consumers whom they serve, taking on the latter’s values and opinions and representing them to retain them as customers. ‘The Corporate Overlords will be Kind’ advances that corporations are now – and will increasingly be – the loudest voices in the political market square of the United States, but that such a situation is not necessarily a cause for concern. This book thus departs from the traditional scholarly views of Citizens United (the 2010 landmark decision of the Supreme Court which granted free speech to corporations as persons) as a woe to democracy, and argues that the ageless, deathless, genderless, nationless corporations will be the political representatives of the futures, not political parties. This book will appeal to undergraduate and graduate students specializing in social sciences, particularly politics, history, sociology, and law. Political professionals and journalists may also be interested in the book, in addition to the general reader with interest in politics.

Macroeconometric Models for Portfolio Management

Jeremy Kwok, University of Exeter, England

‘Macroeconometric Models for Portfolio Management’ begins by outlining a portfolio management framework into which macroeconometric models and backtesting investment strategies are integrated. It is followed by a discussion on the theoretical backgrounds of both small and global large macroeconometric models, including data selection, estimation, and applications. Other practical concerns essential to managing a portfolio with decisions driven by macro models are also covered: model validation, forecast combination, and evaluation. The author then focuses on applying these models and their results on managing the portfolio, including making trading rules and asset allocation across different assets and risk management. The book finishes by showing portfolio examples where different investment strategies are used and illustrate how the framework can be applied from the beginning of collecting data, model estimation, and generating forecasts to how to manage portfolios accordingly. This book aims to bridge the gap between academia and practising professionals. Readers will attain a rigorous understanding of the theory and how to apply these models to their portfolios. Therefore, ‘Macroeconometric Models for Portfolio Management’ will be of interest to academics and scholars working in macroeconomics and finance; to industry professionals working in financial economics and asset management; to asset managers and investors who prefer systematic investing over discretionary investing; and to investors who have a strong interest in macroeconomic influences on their portfolio.

Work Appropriation and Social Inequality

Edited by Antonia Kupfer, Technical University Dresden, Germany

This volume is a collection of subject-oriented studies on paid work. Each chapter refers to the social structures that form conditions for peoples’ working contexts and interprets workers’ and employees’ narrations on work. Work appropriation—a process of formation of subjectivity, in which workers and employees relate to the social status of their occupations and the use-value of their work in actively dealing with the work’s content and conditions—serves as a comprehensive concept for each varying subject-oriented approach in the volume. ‘Work Appropriation and Social Inequality’ focuses on social inequality, understood as the distribution of life chances that privilege some and discriminate others and reveals the unequal conditions for, and outcomes of, work appropriation. By analyzing work appropriation, it uses a broader concept than that of ‘meaning of work’ or ‘meaningful work’ as it includes the practice and processes of working. The volume’s subject-oriented approach to work differs from the stream ‘subjectivation’ in going beyond individuals’ desires for self-realization in work and to companies’ requirements of accessing emotional and personal dimensions of their workforce. The volume contains three parts: the first lays out basic approaches to work appropriation and social inequality, the second analyses current threats to work appropriation in the UK and Germany, and the third consists of a philosophical outlook on work in the Anthropocene. The book’s impact lies in pushing forward the debate on how work appropriations are linked to unequal social structures. It will therefore appeal to social scientists interested in social inequality, sociology of work and organization, as well as students and teachers at the undergraduate and graduate level in the areas of social sciences.

Passion killers: The art of passion killing in the age of stress and anxiety

Phillip Walden Bowen

There is growing pressure and stress placed on organisations to fight for customers and service/product placement in an increasingly competitive global marketplace. It has, therefore, never been more important to get the best out of the workforce. To achieve this, the role of the leader can be a fundamental factor in organisational success or failure. Leaders need to have the requisite skills to reflect the demands placed upon them in the 21st century. There are the “accidental managers” who just drop into the role of leadership and others who may develop skills and knowledge in readiness for a leadership role. There are also those who may have the innate ability to lead. Within the mix are those who are characterised by traits associated with the “dark triad” or who may use “pathocratic influence” on others to conform, reinforcing values (or lack of values) associated with toxic leadership. They create damage and harm. They become “passion killers”. The result can lead to a “pathocracy”. This book discusses the role emotional intelligence plays in helping people deal with stressful and challenging experiences, suggesting different ways to cope. The author reflects on the values that are integral to the success or failure of an organisation. “Passion” is identified as an added value that can differentiate one organisation from another. If passion is harmed, it can affect motivation, creativity, output, performance, and productivity. Therefore, this book provides the reader with examples of “passion killing” while making suggestions as to factors that can be adopted to engage and encourage passion. Conclusions are drawn and recommendations made to support those faced with “passion killers”. This book is aimed at those of all ages and educational backgrounds interested in developing their leadership knowledge and skills. It is also aimed at those interested in learning more about differences in personality, emotional intelligence, stress, coping, values, and the importance of understanding the impact of “passion killers”.

Leading and Managing Open and Distance e-Learning (ODeL) Institutions in Africa

Edited by Cuthbert Majoni, Zimbabwe Open University, Zimbabwe

'Leading and Managing Open and Distance E-Learning (ODeL) Institutions in Africa' focuses on e-learning, especially in developing countries in Africa. The outbreak of COVID-19 has forced most educational institutions, including conventional institutions in higher education, to embrace e-learning as a tool to ensure that education is not paralysed but continues to thrive. However, the major challenge has been shifting focus from the conventional face-to-face mode to the e-learning mode. This calls for a change of mindset and a review of practices to ensure success in implementing e-learning. This book has 12 chapters that explore the leadership theories and approaches that influence administrative practices in ODeL institutions, as well as student support within library and information services, the complexities of student affairs, the inclusion of students with special needs, the contemporary issues of innovation and industrialisation, and effective marketing techniques for the survival and growth of tertiary institutions. It is hoped that the recipients of this book can acquire the theoretical and practical knowledge relevant to the successful implementation of e-learning.

Effective Corporate Governance: Theory and Best Practices

Kirimi Barine and David Minja

Corporate governance has attracted considerable attention worldwide, especially in light of the widely publicized, high-profile global corporate failures and scandals. Since Corporate Governance contributes to the success of any institution, it must therefore be prioritized. In this very practical book, 'Effective Corporate Governance' explores the theories and models of corporate governance as well as the regulatory framework in which corporate governance operates. The authors have also talked about the pillars and best practices for good governance, including what a good board looks like and, at the same time, giving practical ideas on how to measure corporate governance health and what to do to get back on track. In addition, it includes case studies from the African context where the authors have extensively consulted with both for profit, not for profit and government institutions. This book will keep you relevant and ahead of the game whether you are a leader or student of leadership in the public or private sector, a religious institution or even a small and medium enterprise.

Advances in Brand Semiotics & Discourse Analysis

Edited by George Rossolatos

This volume addresses some of the most important conceptual, methodological, and empirical challenges and opportunities with which the sister disciplines of semiotics and discourse analysis are mutually confronted in the context of considering new avenues of cross-disciplinary application to distinctive branding research streams. In continuation of the collective volume 'Handbook of Brand Semiotics' (Kassel University Press, 2015), which sought to consolidate relevant scholarship and to identify the main territories that have been established at the cross-roads between branding and semiotic research, the current 'Advances in Brand Semiotics & Discourse Analysis' aims at accomplishing further strides in critical areas, such as the exigency for reconsidering the aptness of existing semiotic theories in the face of the radically shifting co-creative landscape of digital branding, the benefits of systematically micro-analyzing brand communities’ discourses by drawing on CAQDAS programs, the combination of big data analytics with discourse theory in corpus analysis, and the epistemological issues that emerge while combining discourse analysis with time-hallowed marketing qualitative and quantitative research methods. At the same time, the volume hosts a resourceful blend of empirical studies and novel conceptual frameworks in burgeoning streams, such as place, heritage, culinary, personal, and political branding.

Handbook of Research on Cross-culture Business and Management

Edited by Chandan Maheshkar, East Nimar Society for Education (ENSE), Indore, India and Vinod Sharma, SCMHRD, Symbiosis International University Pune, India

As organizations and businesses continue to expand in the cross-border and multicultural markets, culture needs to be taken into consideration. At present, culture introduces significant changes in the core assumptions of business practices and skill expectations. Gaining cross-cultural compatibility is now a serious concern for businesses and organizations. Appreciating the overall view of cross-cultural business environment, 'Handbook of Research on Cross-culture Business and Management' is a significant attempt to contribute a piece of knowledge on different aspects of cross-cultural business and management, facilitating practitioners and academicians to explore different cross-cultural business practices and develop competencies. This book will be a unique source for cross-cultural business and management practices, helping people of both industry and academia to understand the cross-cultural business environment and improve management practices.

Cross-cultural Business and Management: Perspectives and Practices

Edited by Chandan Maheshkar, East Nimar Society for Education (ENSE), Indore, India and Vinod Sharma, SCMHRD, Symbiosis International University Pune, India

Culture is a 'cumulative custom of beliefs, values, rituals, and sanctions practiced by a group of people, province or country'. It is a more sensitive dimension of internationalization of any business and making it perform in a culturally diverse environment. Sometimes, nations/states lose their normative significance in a cross-cultural setting (e.g., India, South America). It is because they undermine their earlier philosophies of norms, values, and beliefs or neglect the cultural significance of other nations. In the current business and workplace dynamics, cultural components introduced significant changes in the core assumptions of business practices and skill expectations. This paradigm shift has forced business executives and managers to know how cultural differences affect inter- and intra-organizational functioning. It has made gaining cross-cultural compatibility a serious concern for business and academic communities worldwide. Therefore, this book facilitates business leaders, expatriate managers, business executives, academicians and scholars to explore different cross-cultural business perspectives and practices.

New quality management for the nonprofit sector

Guido Cuyvers, Thomas More University College, Belgium

For a long time, quality has been the center of attention in the nonprofit sector, influenced by all kinds of developments in society. Due to, among other things, the interference of the government and the increasing competition, all divisions in the nonprofit sector are obliged to work systematically with their quality. Quality has become necessary. However, as more people gain experience with quality assessments, visitations, and accreditations, so does the criticism. This has to do with how quality is assessed and with the criteria that are used. We will examine this critically in this book. Many questions remain unanswered, and contradictions have not been resolved. Moreover, it is no easy task to have all noses pointing in the same direction. In short, there is still work to be done. This book broadens the traditional vision of quality and quality assurance to a vision and approach that is compatible with the support of the organization’s missions in the nonprofit sector. Incidentally, we will speak of quality development rather than quality assurance. The use of the term ‘quality development’ hopes to inspire people to look differently at quality and how their organization deals with it. Furthermore, this book provides nonprofit organizations with methodologies and tools that can help in the process of permanent quality development. The pursuit of quality for nonprofit organizations is approached from a development perspective and a broader social context. This distinguishes it from the traditional quality management manuals. It offers a constructive and appreciative approach that is compatible with the specific mission of various nonprofit organizations (such as education, health care, social work, and government). The approach is also integral because everyone in the organization, as well as the external partners, is involved.

Blockchain applications in agriculture: Revolutionizing the food supply chain

Duong Hoai An, Thai Nguyen University of Agriculture and Forestry, Vietnam

'Blockchain applications in agriculture: Revolutionizing the food supply chain' is your definitive guide to the transformative impact of blockchain technology on agriculture and the modern food supply chain. In this comprehensive volume, we begin with “Introduction to blockchain technology,” laying the groundwork for readers of all backgrounds. From there, we delve into the intricate relationship between blockchain and the agriculture industry in “Overview of the agriculture industry”. The heart of the book explores practical applications in agriculture and the supply chain, including “Blockchain-based supply chain management,” “Farming and crop management,” “Livestock management and animal welfare,” and “Food safety and quality assurance.” We also explore how blockchain revolutionizes “Agricultural finance and insurance” and fosters “Sustainable agriculture and supply chain sustainability”. Drawing on “Case studies and real-world examples,” you’ll see blockchain in action, offering invaluable insights for farmers, supply chain professionals, academics, and policymakers. Our forward-looking chapter, “Future Trends and Challenges of Blockchain,” anticipates the evolving landscape of this groundbreaking technology. This book stands out for its depth, practicality, and relevance. It is equally suitable for reference, as a methodological guide, for classroom adoption, or as essential reading for researchers and practitioners in the fields of agriculture, technology, supply chain management, and policy. Whether you’re seeking to optimize farming practices, enhance supply chain transparency, or understand the regulatory implications, 'Blockchain applications in agriculture' equips you with the knowledge and inspiration needed to navigate the future of food production and distribution. Join the agricultural revolution today.

Central Banking and Monetary Policy in the G20: Paradigms and Challenges

Edited by Irfan Kalayci, İnönü University, Malatya, Turkey

Behind productive and prosperous economies are independent central banks that implement effective monetary policies. This observation is especially valid for the G20, which comprises the world’s top twenty economies in terms of gross domestic product and the largest stakeholders of the global economic system. These economies include Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, the United Kingdom, the United States, and the European Union. Three features of this book, which focuses on central banking and monetary policy in the G20, an intergovernmental platform, stand out: Firstly, as contemporary theories and global practices confirm, the main purpose of central banks is to ensure monetary and price stability, not despite the government but in cooperation with it. This principle is strongly emphasized here. Governments, which must maintain fiscal discipline, are key to the success of central banks in combating inflation and deflation. Secondly, since the authors of the book chapters come from various countries and academic institutions, the book offers a range of perspectives and intellectual richness. Without deviating from the book's main axis, the authors examine the changing paradigms in central banking and the increasing challenges of monetary policy. This examination is based on developed and emerging economies, integrations, financial organizations, and economic crises within the G20, informed by significant sources. Thirdly, this book offers university researchers, professional business practitioners, and curious readers the opportunity to explore and reflect on new concepts such as green central banking, digital money, and interest-free monetary policies, which have gained prominence in the wake of the global COVID-19 pandemic, alongside mainstream topics. It is hoped that this book, consisting of 14 chapters, will inspire those who wish to conduct new and renewed academic studies on global central banks and monetary policies and will fill a gap in the literature.

Why Do Investors Act Irrationally? Behavioral Biases of Herding, Overconfidence, and Overreaction

Ooi Kok Loang

'Why Do Investors Act Irrationally? Behavioral Biases of Herding, Overconfidence, and Overreaction' explores the powerful psychological forces that drive investor decisions, often leading to irrational behavior and market turbulence. This book provides an in-depth analysis of three critical behavioral biases—herding, overconfidence, and overreaction—that influence investors across various financial markets. Drawing on cutting-edge research and real-world examples, it delves into why even experienced investors sometimes fall prey to these biases, challenging conventional financial theories that assume rational behavior. Designed for scholars, finance professionals, and advanced students, this book fills a gap in behavioral finance literature by examining not just the existence of these biases, but their consequences and the conditions that amplify or mitigate them. Unlike traditional finance texts, which focus primarily on quantitative models, this work bridges psychology and finance, making it uniquely suited for those interested in understanding the ‘why’ behind investor actions. It positions itself alongside essential readings in behavioral finance, offering original insights and a fresh perspective that will be invaluable to researchers, policy advisors, and practitioners alike. Its accessible yet academically rigorous content also makes it ideal for classroom adoption in advanced finance and behavioral economics courses, offering thought-provoking discussion points and practical implications. 'Why Do Investors Act Irrationally?' invites readers to rethink traditional assumptions about financial markets and provides actionable strategies to address the influence of irrational biases in investment decisions, making it an indispensable resource in the evolving field of behavioral finance.